CHRISTOPHER RUGABER Economics Writer, Author at The Rapid City Post

Fed’s Powell repeats warning about tariffs as some GOP senators accuse him of bias

June 25, 2025

Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties. On the second day of his twice-yearly testimony before House and Senate, Powell said that consumers will likely have to shoulder some of the cost of the import taxes. Most Fed officials support cutting rates this year, Powell added, but the central bank wants to take time to see how inflation changes in the months ahead.

Federal Reserve Chairman Jerome Powell departs after speaking at the 75th anniversary conference of the Federal Reserve Board's International Finance Division at the Federal Reserve in Washington, Monday, June 2, 2025. (AP Photo/Mark Schiefelbein)

The US economy is in a good place, but the Federal Reserve is not

June 17, 2025

The U.S. economy is mostly in good shape but that isn’t saving Federal Reserve chair Jerome Powell from a spell of angst. As the Fed considers its next moves during a two-day meeting this week, most economic data looks solid: Inflation has been steadily fading, while the unemployment rate is still a historically low 4.2%. Yet President Donald Trump’s widespread tariffs may push inflation higher in the coming months, while also possibly slowing growth. With the outlook uncertain, Fed policymakers are expected to keep their key interest rate unchanged on Wednesday at about 4.4%.

FILE - Customers wait in line for eggs at a Costco store in the Van Nuys section of Los Angeles on Wednesday, Feb. 19, 2025. (AP Photo/Richard Vogel, File)

Consumer sentiment rises for 1st time this year as inflation remains tame

June 13, 2025

Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fight with China. The preliminary reading of the University of Michigan’s closely watched consumer sentiment index, released Friday, jumped 16% to 60.5. The large increase followed steady drops that left the preliminary number last month at the second-lowest level in the nearly 75-year history of the survey. Consumer sentiment is still down 20% compared with December 2024.

FILE - The entrance to the Labor Department is seen near the Capitol in Washington, May 7, 2020. (AP Photo/J. Scott Applewhite, File)

Inflation data threatened by government hiring freeze as tariffs loom

June 4, 2025

The Labor Department has cut back on the inflation data it collects because of the Trump administration’s government hiring freeze, raising concerns among economists about the quality of the inflation figures just as they are being closely watched for the impact of tariffs. The department’s Bureau of Labor Statistics, which produces the monthly consumer price index, said Wednesday that it is “reducing sample in areas across the country” and stopped collecting price data entirely in April in Lincoln, Nebraska, and Provo, Utah. It also said it has stopped collecting data this month in Buffalo, New York.

FILE - President Donald Trump speaks to reporters in the Oval Office of the White House, Friday, May 23, 2025, in Washington. (AP Photo/Evan Vucci, File)

What is the Court of International Trade? And why can it strike down Trump’s tariffs?

May 29, 2025

A little-known federal court threw a giant monkey wrench into a foundational part of President Donald Trump’s economic agenda by striking down most of the sweeping tariffs he has imposed since taking office. The Court of International Trade typically deals with more obscure and highly-technical issues surrounding tariffs and trade policies. It handles trade-related disputes from all over the country, and as a result sits outside the standard federal court structure of district courts and appellate circuit courts.

CHRISTOPHER RUGABER Economics Writer.

Fed’s Powell repeats warning about tariffs as some GOP senators accuse him of bias

The US economy is in a good place, but the Federal Reserve is not

Consumer sentiment rises for 1st time this year as inflation remains tame

Inflation data threatened by government hiring freeze as tariffs loom

What is the Court of International Trade? And why can it strike down Trump’s tariffs?

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